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Breaking news on Greece financial crisis

Breaking news on Greece financial crisis | money money money | Scoop.it
Greece expects its economy to grow next year, the first annual improvement after six years of brutal contraction.

Greece's economy has shrunk by about a quarter since 2008, when it was hurt by the global financial crisis.
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Why Europe's austerity experiment is doomed to fail

Why Europe's austerity experiment is doomed to fail | money money money | Scoop.it
The bureaucrats in Brussels are convinced austerity will get Europe back on track. But comparing Greece’s experience to that of the US, it’s clear that these measures just compound the problem by forcing the private sector to deleverage further.
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My suggestion for solving our euro woes? Back-up currencies - The Guardian

My suggestion for solving our euro woes? Back-up currencies - The Guardian | money money money | Scoop.it


The city of Volos in Greece did suggest an alternative option: a group of people there created their own currency to keep the wheels in motion.

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Voices from Greece: Europe may be recovering, but crisis not over for us

Voices from Greece: Europe may be recovering, but crisis not over for us | money money money | Scoop.it
The eurozone is emerging from its devastating debt crisis but life in Greece -- where the bloc's financial meltdown began -- remains a struggle for many. (The euro crisis might be over, but is life any better for Greeks?
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New Greek Statistics: Athens, again, ready to confess to the sin to claim the glory

New Greek Statistics: Athens, again, ready to confess to the sin to claim the glory | money money money | Scoop.it

So, the question becomes: Was it worth reviving Greek Statistics, and lying about our budget numbers to the people of Greece, of Germany, to the world at large, so as to keep Greece, for decades to come, in perpetual debt bondage? Very much so, from our leaders’ perspective, given that their objective is simply to pull the wool over Europeans’ eyes with a view to winning the European Parliament elections on the basis of the lie that, if the Greek debt crisis is over, so is the Euro Crisis. 

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Financial Crisis' Deadly Effects on Greek Citizens | Greece ...

Financial Crisis' Deadly Effects on Greek Citizens | Greece ... | money money money | Scoop.it
A study from the University of Cambridge showed that the Greek financial crisis has deadly effects on Greek citizens.
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First Step to Solving the Eurozone Crisis: Change our Perceptions | Euro Crisis in the Press

First Step to Solving the Eurozone Crisis: Change our Perceptions | Euro Crisis in the Press | money money money | Scoop.it
While the news repeatedly reminds us that Greece has not been able to meet the requirements imposed, rarely do we hear what the country has achieved.
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George Soros funds 'solidarity centres' to help Greeks hit by economic crisis - The Guardian

George Soros funds 'solidarity centres' to help Greeks hit by economic crisis - The Guardian | money money money | Scoop.it

"Greece, to a great degree, has become a failed state," said Aliki Mouriki, a sociologist at the National Centre for Social Research. "It is unable to provide basic facilities for its citizens because of budget cuts.

 
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How Germany is Killing Europe ~ QAS30 Trading Journal

How Germany is Killing Europe ~ QAS30 Trading Journal | money money money | Scoop.it

Imagine if that were the fate of your own children – not just to clean toilets or some such thing, but to do so in a foreign country where they were looked down on by the locals, because your own country cannot even offer up service jobs. Again from a broader perspective, looking beyond trading, this is the stuff that frightening political uprisings are made of. The ghost of Francisco Franco (a horrible fascist leader) is already stirring in Spain. The Golden Dawn, a neo-Nazi party in Greece, is gaining in popularity. And this is perhaps the greatest irony of all: While the euro was essentially dreamed up to bring Germany into the fold and head off the prospect of future wars, euro-driven policies are doing more to raise the prospect of future hot war – by laying a groundwork of shocking pain and suffering – than anything else has done.

 

  
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Greece begins EU presidency by saying austerity policies are intolerable - The Guardian

Greece begins EU presidency by saying austerity policies are intolerable - The Guardian | money money money | Scoop.it

Greece kicked off six months in charge of the European Union on Wednesday declaring that the imposition of austerity, spending cuts and fiscal policy by Berlin and Brussels could no longer be tolerated.

 
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GEORGE SOROS: Greece Is A Victim Of Its Creditors' Misconceptions And Taboos

GEORGE SOROS: Greece Is A Victim Of Its Creditors' Misconceptions And Taboos | money money money | Scoop.it
George Soros argues that Greece has been a victim of creditors' misconceptions and taboos. (Soros: "These two examples justify my description of the euro crisis as a nightmare.
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Graph of the day. Deflation in Greece, inflation in Spain and Germany

Graph of the day. Deflation in Greece, inflation in Spain and Germany | money money money | Scoop.it

The Greek GDP price level is falling, which will make it even harder for the Greek to pay back their debts. Deflation rears its ugly head – and the ECB has no means to combat this situation! Real GDP in Greece is shrinking at a 5,5% rate, which means that nominal GDP (and therewith tax receipts of the government) is shrinking at an about 8% a year rate – you don’t even need the back of an envelope to do the calculations. Remarkably, Spanish prices still show some increase despite a level of unemployment as high as the Greek level – one economic model does not fit all.

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A New Greek Test for Europe by Ashoka Mody - Project Syndicate

A New Greek Test for Europe by Ashoka Mody - Project Syndicate | money money money | Scoop.it
Greece’s debt crisis may have been pushed off the world's front pages, but it has not gone away.
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Euro Crisis Could Return This Fall

Euro Crisis Could Return This Fall | money money money | Scoop.it
Debate has been raging over new aid for Greece, and EU finance ministers are grumbling again about a number of other problems. Is the euro crisis on its way back? For a while it appeared as if thin...
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Financial crisis forces hundreds of dentists to leave Greece - Press TV

Financial crisis forces hundreds of dentists to leave Greece - Press TV | money money money | Scoop.it

According to President of Athens Dental Association Athanassios Yfantis, nearly 600 dentists have left the country due to financial crisis affecting their profession. 

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The third rescue to Greece will not infect to Spain nor will put in crisis the Euro, according to the analysts - News Round

The third rescue to Greece will not infect to Spain nor will put in crisis the Euro, according to the analysts - News Round | money money money | Scoop.it
Demonstrators maintain to photographies of well-known artists and writers during a manifestation against the closing of televisió public Greek before the Greek Parliament.
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Financial crisis drives up Greek suicide rate

Financial crisis drives up Greek suicide rate | money money money | Scoop.it

ATHENS, Greece (AP) — Suicides increased by 45 percent during the first four years of Greece's financial crisis, a mental health aid group said Tuesday, warning there are indications of a further "very large rise" over the past two years.

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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation